Circular No. 08/2023/TT-BTC revokes Circular No. 86/2016/TT-BTC dated June 20, 2016, issued by the Minister of Finance guiding certain contents regarding the Risk Reserve Fund and Environmental Damage Compensation Fund as stipulated in Decree No. 19/2015/NĐ-CP dated February 14, 2015, of the Government detailing the implementation of the Law on Environmental Protection.

CIRCULAR
Repeals Circular No. 86/2016/TT-BTC dated June 20, 2016, issued by the Minister of Finance guiding certain contents regarding the Risk Reserve Fund and Environmental Damage Compensation Fund as stipulated in Decree No. 19/2015/NĐ-CP dated February 14, 2015, of the Government detailing the implementation of the Law on Environmental Protection.
                                      

Pursuant to the Law on Legislative Regulatory Documents No. 80/2015/QH13 dated June 22, 2015;

Pursuant to the Law Amending and Supplementing Certain Provisions of the Law on Legislative Regulatory Documents No. 63/2020/QH14 dated June 18, 2020;

Pursuant to the Law on Environmental Protection No. 72/2020/QH14 dated November 17, 2020;

Pursuant to Decree No. 08/2022/NĐ-CP dated January 10, 2022, of the Government detailing certain provisions of the Law on Environmental Protection;

Pursuant to the Government's Decree No. 34/2016/NĐ-CP dated May 14, 2016 detailing certain provisions and measures for implementing the Law on Legislative Acts of Regulations;

Pursuant to Decree No. 154/2020/NĐ-CP dated December 31, 2020, amending and supplementing certain provisions of Decree No. 34/2016/NĐ-CP dated May 14, 2016, of the Government detailing certain provisions and measures for implementing the Law on Legislative Regulatory Documents;

Pursuant to Decree No. 87/2017/NĐ-CP dated July 26, 2017, issued by the Government, stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

At the proposal of the Director of the Enterprise Finance Department,

The Minister of Finance hereby issues this Circular to repeal Circular No. 86/2016/TT-BTC dated June 20, 2016, issued by the Minister of Finance guiding certain contents regarding the Risk Reserve Fund and Environmental Damage Compensation Fund as stipulated in Decree No. 19/2015/NĐ-CP dated February 14, 2015, of the Government detailing the implementation of the Law on Environmental Protection.

Article 1. Repeal Circular

Repeal Circular No. 86/2016/TT-BTC dated June 20, 2016, issued by the Minister of Finance guiding certain contents regarding the Risk Reserve Fund and Environmental Damage Compensation Fund as stipulated in Decree No. 19/2015/NĐ-CP dated February 14, 2015, of the Government detailing the implementation of the Law on Environmental Protection.

Article 2. Transitional Provisions

Any remaining balance in the Risk Reserve Fund and Environmental Damage Compensation Fund that has been established but not fully utilized from the date this Circular takes effect shall be recorded as other income of the current fiscal year. Enterprises' accountants shall proceed as follows:

Debit Account 352 - Provision for Liabilities

Credit Account 711 - Other Income

Article 3. Implementation Provisions

1. This Circular takes effect from March 24, 2023.

2. The Director of the Department of Enterprise Finance, Heads of units under the Ministry of Finance, and relevant agencies, organizations, and individuals are responsible for implementing this Circular./.